FOR IMMEDIATE RELEASE
For:
Moore-Handley, Inc.
Contact:
Carol Temple
Moore-Handley Reports Results
of Operations for the Quarter Ended March 31, 2007
BIRMINGHAM, Ala., April 13, 2007 -- Moore-Handley, Inc. (Other OTC: MHCO.PK), a Birmingham-based distributor of hardware and home center products, reported net income of $310,000 or $0.19 per diluted share for the quarter ended March 31, 2007 vs. $307,000 or $0.19 per diluted share for the same period in 2006.
Sales for the quarter were $47,747,000, down 8.4% from the same quarter last year.
Selected financial data follow:
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Moore-Handley,
Inc. | ||||||
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Selected
Financial Data | ||||||
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(UNAUDITED)
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Quarter
Ended | |||
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March
31 | |||
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2007 |
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2006 | |
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Sales |
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$ 47,747,000 |
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$ 52,132,000
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Operating
income |
1,039,000
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894,000 | |||
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Interest
expense |
512,000 |
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383,000 | |||
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Income
before income tax |
527,000 |
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511,000 | |||
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Net
income |
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$
310,000 |
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$
307,000
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Net
income per share - basic |
$
0.19 |
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$
0.19 | |||
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Net
income per share - diluted |
$
0.19 |
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$
0.19 | |||
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Weighted
average common |
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shares
outstanding |
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Basic |
1,598,000 |
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1,626,000 | |||
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Diluted |
1,614,000 |
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1,651,000 | |||
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Balance
Sheets: |
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March 31
- |
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2007 |
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2006 |
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Current
assets |
$
59,401,000 |
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$
60,373,000 | ||
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Other
assets |
360,000 |
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384,000 | ||
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Property
& equipment, net |
8,888,000 |
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9,079,000 | ||
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Total
assets |
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68,649,000 |
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69,836,000 |
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Current
liabilities |
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21,799,000 |
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26,030,000 |
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Long
term debt |
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30,920,000 |
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28,513,000 |
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Other
liabilities |
3,394,000 |
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1,701,000 | ||
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Stockholders’
equity |
12,536,000 |
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13,592,000 | ||
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Total
liabilities & stockholders’ equity |
$ 68,649,000
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$
69,836,000 | ||
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End
4/13/07 |
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